Chicago, Illinois– NXT Capital announced today that it closed a $67.5 million loan to finance the acquisition of 55 Allen Plaza, a 14-story, 342,853 square foot, Class A trophy office building located in Atlanta, Georgia.
55 Allen Plaza is located on the border of downtown and midtown Atlanta with direct access to Interstate 75/85. The property is a five-minute walk to the Civic Center MARTA transit station and close to the Georgia Institute of Technology. 55 Allen Plaza is Leed Gold Certified with an Energy Star score of 93. Completed in 2007 and anchored by Ernst & Young, property amenities include a recently upgraded lobby with new floors and fixtures, full time security, renovated fitness center, 5,000 square foot conference center, café and convenience store, three dual-car charging stations and a new concept “Green Room” containing additional meeting/event space.
Ed Coco and Matt Casey of JLL Capital Markets in Atlanta placed the loan with NXT Capital on behalf of the buyer, an affiliate of Lone Star Funds, the global private equity firm.
NXT Capital’s Real Estate Finance group primarily serves experienced real estate investors. It provides non-recourse floating rate first mortgages of $15 million to $75 million on value-add transactions. NXT Capital provides structured financing solutions through its Real Estate Finance and Corporate Finance groups, originating transactions on a national basis. Lending/financing services provided by NXT Capital, LLC. Loans will be arranged or made pursuant to a California Financing Law License.